Last checked at 13 Aug 2018 14:30
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
13 August 2018
Emmerson Plc ("Emmerson" or the "Company")
Successful Stakeholder Day at Khemisset Potash Project, Morocco
Emmerson Plc, the Moroccan focused potash development company, is pleased to announce that the Company recently held a stakeholder day hosted by the office of the Governor of the Khemisset Province in northern Morocco where the Company's Khemisset Potash Project ("Khemisset" or "the Project") is located. The stakeholder day was aimed at increasing the Project awareness and stakeholder engagement which are key facets of the IFC Performance Standards, to which the Company intends to adhere, for the Project development. The meeting was both well attended and supported by a broad profile of interested parties. To view the press release with the images included please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6460X_1-2018-8-13.pdf
The meeting was attended by over 30 local stakeholders, predominately the Presidents and Vice Presidents representing the Province of Khemisset, Regional Council, local communes, as well as representatives of Royal Gendarmerie of the Province of Khemisset. The Company presented the history of the Project, its plans for the development of a potash mine over the coming years, and the potential impact of the Project on the regional as well as national economy. There was also a Q&A session during the meeting where the attendees got the chance to better understand the Company and Project, and during which they expressed their full support for the Project and their gratitude for the level of engagement at this early stage.
As stakeholder engagement is a key facet of the IFC Performance Standards for the Project development, similar engagement meetings will be organised on a regular basis and will form an integral part of the on-going development of an IFC compliant Environmental and Social Impact Assessment ("ESIA") for the Khemisset Project.
Hayden Locke, CEO of Emmerson, commented:
"Developing a strong social licence to operate is at the core of our aim to build Khemisset into a low capex, high margin potash mine, which makes a positive impact for our shareholders, and as importantly, in our local communities. The encouraging support we received during our stakeholder day is a significant first step for the Company towards this social licence.
"Stakeholder engagement is fundamental to delivering an IFC compliant ESIA, which in turn is a requirement by major project financing banks to look at financing a new mine development.
"The Scoping Study and technical work on the ground at Khemisset are progressing well and I look forward to providing further updates on our progress on both an operational and social level."
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
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Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco. The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K2O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine. Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents.